22,900 Shares in Public Storage (NYSE:PSA) Purchased by Erste Asset Management GmbH

Erste Asset Management GmbH purchased a new position in Public Storage (NYSE:PSA) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 22,900 shares of the real estate investment trust’s stock, valued at approximately $8,167,000.

A number of other hedge funds also recently bought and sold shares of PSA. Atria Investments Inc raised its position in Public Storage by 1.1% during the first quarter. Atria Investments Inc now owns 5,732 shares of the real estate investment trust’s stock valued at $1,663,000 after purchasing an additional 61 shares during the period. Transcend Capital Advisors LLC bought a new position in Public Storage during the second quarter valued at $209,000. GAMMA Investing LLC raised its stake in shares of Public Storage by 67.7% in the second quarter. GAMMA Investing LLC now owns 1,107 shares of the real estate investment trust’s stock valued at $318,000 after acquiring an additional 447 shares during the period. DNB Asset Management AS lifted its stake in Public Storage by 6.5% in the second quarter. DNB Asset Management AS now owns 27,023 shares of the real estate investment trust’s stock worth $7,773,000 after purchasing an additional 1,640 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Public Storage during the 2nd quarter worth approximately $186,000. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on PSA shares. Royal Bank of Canada lowered their price target on Public Storage from $358.00 to $344.00 and set a “sector perform” rating for the company in a report on Friday, November 8th. Wolfe Research upgraded shares of Public Storage to a “strong-buy” rating in a report on Wednesday, September 4th. Morgan Stanley upped their price target on shares of Public Storage from $293.00 to $315.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 2nd. Evercore ISI cut their price objective on shares of Public Storage from $343.00 to $338.00 and set an “in-line” rating on the stock in a report on Monday, October 14th. Finally, Jefferies Financial Group increased their target price on Public Storage from $360.00 to $422.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Public Storage presently has an average rating of “Moderate Buy” and an average target price of $339.64.

Public Storage Stock Down 0.9 %

Shares of PSA stock opened at $348.05 on Monday. The stock’s fifty day moving average price is $342.76 and its 200 day moving average price is $319.51. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97. Public Storage has a 1-year low of $255.78 and a 1-year high of $369.99. The company has a market cap of $60.95 billion, a price-to-earnings ratio of 36.14, a price-to-earnings-growth ratio of 5.79 and a beta of 0.70.

Public Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be given a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 3.45%. The ex-dividend date is Friday, December 13th. Public Storage’s payout ratio is currently 124.61%.

Public Storage Profile

Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns, and operates self-storage facilities. At December 31, 2023, we had: (i) interests in 3,044 self-storage facilities located in 40 states with approximately 218 million net rentable square feet in the United States and (ii) a 35% common equity interest in Shurgard Self Storage Limited (Euronext Brussels: SHUR), which owned 275 self-storage facilities located in seven Western European nations with approximately 15 million net rentable square feet operated under the Shurgard brand.